Oregon Statutes - Chapter 100 - Condominiums - Section 100.745 - Escrow documents required of successor to vendorís interest.

(1) A purchaser of a vendorís interest or a holder of an encumbrance secured by a vendorís interest in an installment contract of sale for which an escrow has been established pursuant to ORS 100.720 shall deposit in the escrow any instruments necessary to assure that the contract vendee can obtain the legal title bargained for upon compliance with the terms and conditions of the contract.

(2) A developer who has sold interests in a condominium under an installment contract of sale shall not dispose of or subsequently encumber the vendorís interest therein unless the terms of the instrument of disposition or the encumbrance provide the means by which the purchaser or holder of the encumbrance will comply with subsection (1) of this section. [Formerly 94.431]

Section:  Previous  100.705  100.710  100.720  100.725  100.730  100.735  100.740  100.745  100.750  100.770  100.775  100.780  100.785  100.900  100.905  Next

Last modified: August 7, 2008